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Vehicle-to-Grid Technology Market 2023 : Trends, Business Growth And Major Driving Factors | Nissan Motor Co. Ltd., Mitsubishi Motors Corporation, NUVVE Holding Corp., OVO Energy Ltd., Engie SA
Vehicle-to-Grid Technology
Vehicle-To-Grid Technology Market Size, Growth Rate, And Forecast
The global vehicle-to-grid technology market size is expected to grow from $2.70 billion in 2022 to $3.37 billion in 2023 at a compound annual growth rate (CAGR) of 24.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vehicle-to-grid technology market size is expected to reach $7.80 billion in 2027 at a CAGR of 23.4%.
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Vehicle-To-Grid Technology Market Drivers
The increasing adoption of electric vehicles is expected to propel the growth of the vehicle-to-grid technology market going forward. An electric vehicle is one that is propelled by an electric motor that receives its energy from a battery and can be charged from an external source. Vehicle-to-grid technology is utilized in electric vehicles for smart charging technology, which allows vehicle batteries to give electricity back into the grid.
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Vehicle-To-Grid Technology Market Segments
1) By Component: Electric Vehicle Supply Equipment (EVSE), Home Energy Management (HEM) System, Smart Meters, Software Solutions
2) By Charging Type: Unidirectional Charging, Bidirectional Charging
3) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
4) By Application: Reactive Power, Baseload Power, Spinning Reserves, Peak Power Sales, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Vehicle-To-Grid Technology market.
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Vehicle-To-Grid Technology Market Key Players
Major players in the vehicle-to-grid technology market are Nissan Motor Co. Ltd., Mitsubishi Motors Corporation, NUVVE Holding Corp., OVO Energy Ltd., Engie SA, Groupe Renault, Honda Motor Co. Ltd., DENSO Corporation., EnerDel Inc., Coritech Services Inc., EV Grid Inc., Hitachi Ltd., NRG Energy Inc., Energie Baden-Württemberg AG., and Endesha SA.
The Business Research Company's "Global Vehicle-To-Grid Technology Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Vehicle-To-Grid Technology Market Include:
1. Executive Summary
2. Vehicle-to-Grid Technology Market Characteristics
3. Vehicle-to-Grid Technology Market Trends And Strategies
4. Vehicle-to-Grid Technology Market - Macro Economic Scenario
5. Vehicle-to-Grid Technology Market Size And Growth
……
27. Vehicle-To-Grid Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vehicle-to-Grid Technology Market
29. Vehicle-to-Grid Technology Market Future Outlook and Potential Analysis
30. Appendix
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